Bitcoin SV Worth Evaluation: Will BSV Check Resistance Of $ 265.85?

  • Bitcoin SV developed with positive momentum on Tuesday
  • The current BSV price is $ 244.08, up 3.28% over the past 24 hours and up 15.47% from the previous week
  • The BSV / BTC pair is negative at 0.56% in Tuesday’s trading session (0.00497780).

Source: TradingView

Bitcoin SV had positive momentum on the weekly chart, rising to $ 324.54 on Jan 09, 2021 while above past resistance levels. While the BSV price hit a 52-week high. The trading volume of USD 2,230,482,426 in the last 24 hour period means a loss in value of 21.59%. The BSV / ETH pair is in an uptrend with a reading of (0.13738833) which was up 0.33% in Tuesday’s trading session.

Bitcoin SV technical chart shows positive momentum

The technical diagram of Bitcoin SV underlines a positive trend. In contrast, the current BSV price is included $ 244.08. According to the pivot points, the critical support level for BSV is $ 218.22. Conversely, when it goes up, the main resistance level to watch is $ 265.85. Diving into the weekly chart with a 4 hour timeframe completes a bearish hammer candle pattern indicating that the bears have overpowered the bulls and are now in control.

The volume indicator with the value (1.024 K) reflects a sales volume in coins. Investors can expect a further decline in sales volume in the coming trading sessions.

SMA-200, The price stands at $ 196.70 which is another strong support for the coin. The price is above the SMA and investors can expect an uptrend in the coin.

MACD display (Bearish), The bearish crossing of the signal line detected on February 16, 2021 indicated a sell signal in the coin during the trading session. It also shows red bars in the histogram.

Meanwhile the RSI indicator (Neutral) with a value of 50.82 indicates a neutral signal in the coin. An increase in value can be observed in the coming trading sessions.

Conclusion

The current BSV price rose 3.28% on Tuesday. The price is above the SMA of $ 196.70. Investors can expect price to move towards a resistance level of $ 265.85. All technical indicators recommend a sell signal in the coin for a short time. Investors could notice an increase in the price level in future trading sessions.

Resistance: $ 265.85

Support: $ 218.22

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